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I've just looked at those Panaracer tyres - they may be excellent, but they won't fit vintage 26 x 1.25" rims.
Tan walls are only cosmetic, so if you can find decent ones there's nothing against them. What's 'decent' in this context? Well, not too heavy (say 16 ounces max.) and, most important, they must take enough pressure - 55psi is useless if you want to ride further than the nearest corner shop!
@clubman and any others, re the 26” tyre discussion, any tan wall that are any good? I haven’t taken the plunge yet but was thinking the Panaracer
Pasela wire bead, have you tried them?